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83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp

Ion Geophysical Corp · Sep 25, 2013 · 27 slides

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Slides

  1. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 1
    ION Geophysical Corporation 83rd Annual Meeting of the Society of Exploration Geophysicists Brian Hanson President and Chief Executive Officer September 25, 2013
  2. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 2
    Todays Discussion Overview of ION Financial Results 3
  3. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 3
    ION Geophysical Technology Company Driven to Solve the Toughest E&P Challenges Technology Company 45 Founded in 1968 as Input / Output, Years of technology firsts: Full-wave imaging, under-ice acquisition, cableless…
  4. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 4
    Experienced Management Team R. Brian Hanson Chris Usher Ken Williamson President & CEO EVP & COO, GeoScience EVP & COO, GeoVentures Operations and finance leadership in 20+ years in the geophysical industry Broad international…
  5. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 5
    Robust E&P & Seismic Industry Growth Growth Trends Expected to Continue Actual Projected 900 18 ION solutions align with 800 16 areas of highest industry 700 14 growth Seismic Spend (B) E&P Spend (B) 600 12…
  6. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 6
    ION Strategy Delivering the Greatest Value to E&P Companies in Every Stage Adding the Greatest Value in Every Stage of the Geophysical Cycle Technology & Processing & Reservoir Planning Acquisition Equipment Interpretation…
  7. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 7
    ION Strategy Aligning Our Focus With Major Industry Growth Areas ION Areas of Focus Basin Challenging Unconventional Complex Reservoir Exploration Environments Reservoirs Geologies Exploitation BasinSPANTM Arctic leader with…
  8. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 8
    Business Segments Overview 1H 13 Revenues 1H 13 OI 1H 13 OM Solutions Services High Growth 89% of 1H 2013 revenues from E&P 10% Multi-client (New Venture Programs and Data Library Sales) 71% GeoVentures project execution (within…
  9. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 9
    Solutions Segment Data Library Revenues Aligned with International Exploration Activity Europe +6.3% Canada -2.4% Russia +10% 38 44 47 2011 2012 2013E 38 43 42 2011 2012 2013E 43 45 50 2011 2012 2013E U.S. Middle East…
  10. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 10
    Solutions Segment Diversifying the Portfolio Across the E&P Lifecycle ION Solutions Segment ION Solutions Revenue Revenue Mix Mix Data Processing Relevant across all phases of the E&P lifecycle Expect 3X increase in Solutions…
  11. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 11
    IONs Arctic Solution Big Challenge Big Reward The Opportunity ION Solution Near-ice and unique Alaska Russia under-ice seismic 25% Est. 25% of 61% acquisition undiscovered reserves are in the technologies Arctic Canada Proven…
  12. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 12
    3D Multi-client Seismic Programs Regionally-calibrated 3D Seismic The Opportunity ION Solution Recently announced Growing demand alliance with for 3D Polarcus for joint 3D broadband multi- client seismic & Multi-client…
  13. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 13
    ResSCAN 3D Land Programs Reducing Risk and Uncertainty in Unconventional Reservoirs The Opportunity ION Solution ResSCAN 48 Major Shale programs 3D Gas Basins in 32 multicomponent Countries seismic delivering rock properties…
  14. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 14
    Software Segment Steady Growth Increasing E&P Focus ION Software Segment Revenue Mix E&P Software Solutions NarwhalTM Expect 70% increase in integrated ice Software segment revenue management 2012 - 2017 system Optimization…
  15. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 15
    ION Software and Services Boosting Operational Efficiency Narwhal Optimization Services The Opportunity & Challenge The Opportunity & Challenge Vast hydrocarbon potential in the 4D seismic programs are increasingly Arctic, yet icy…
  16. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 16
    Systems Segment Leveraging a Mature Business for Growth Towed Towed Streamer Streamer CalypsoSeabed TM Seabed System Solid revenue and cash generator Highly strategic - servicing fastest Huge install base - good repair and…
  17. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 17
    ION Seabed JV Integrated Solution to Meet Growing Demand Seabed Acquisition Services Expenditure M 2013 -16 Seabed Seismic Outlook 20062013e: OBS revenues +286% 1200 1000 800 600 400 200 0 2006 2007 2008 2009 2010 2011 2012…
  18. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 18
    Calypso Operational Efficiency Via Larger Recording Spread Hypothetical 36km X 36km Survey Area: 1296 km2 VSO Spread: 8 arrays X 6 km Calypso Spread: 16 arrays X 12 km 24 25 48 49 72 12 13 2 23 26 47 50 71 3 22 27 46 51 70 2 11…
  19. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 19
    INOVA 21st Century Land Seismic Technology Leader Rugged mega-channel recording system for cable-based acquisition Over 125,000 channels sold since introduction in late 2011 INOVA Revenues 120 Autonomous node 100 cableless…
  20. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 20
    Todays Discussion Overview of ION Financial Results 21
  21. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 21
    1H 2013 Highlights Revenue IH 2013 revenue grew by 16% Y/Y: Solutions up 29% Software down 11% Systems down 6% Operations TM Completed two, 2D BasinSPAN programs Australia and Suriname, total library now 400,000 km data…
  22. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 22
    ION Historical Financial Results 2009 2Q13 ( in Thousands) Revenue Adj. EBITDA and Adj. EBITDA Margins Legacy Land Operations Legacy Land Operations 190,057 560,044 177,073 526,317 163,810 155,894 444,322 454,621 419,781…
  23. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 23
    Financial Overview Cash Flow ( in Thousands) SUMMARIZED CASH FLOW 2011 2012 1H-13 Cash from operations 134,893 184,320 42,878 Working capital (4,909) (15,015) (15,410) Multi-client investment (143,782) (145,627) (33,503)…
  24. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 24
    Financial Overview Balance Sheet Capital Employed* M Capital Book Value M 700 700 600 600 500 500 227M 400 400 225M 300 300 200 200 100 100 184M 110M 105M 67M 38M 74M 0 0 Q1 13 Q2 13 Q1 13 Q2 13 Cash Other Working…
  25. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 25
    Appendix 26
  26. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 26
    Summary of Legal Contingency Millions In June, the Judge entered preliminary 125 Order: 14 Rejected jurys finding of willfulness and 105 13 denied WGs motion for enhanced damages. 85 Denied IONs post-verdict motions that…
  27. 83rd Annual Meeting of the Society of Exploration Geophysicists – Ion Geophysical Corp – slide 27

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